Other benefits according to the government would be to simplify price lists, accounting, and foreign exchange.

Nonetheless, those opposed say it would be too costly and would take too long to change the currency to have any effect on criminals.

“If the implementation is long, underground economies or illegal groups or former groups will quickly know how to replace their currency with foreign exchange and other goods little by little,” said the head of the University of Rosario, Jose Manuel Restrepo.

Changing the currency could also lay waste to new bills which began circulating in 2016, but Cardenas said those bills were purposely written with “mil” instead of three zeroes so it could be crossed off the bill easily.

While the government thinks the change would simplify the daily lives of Colombians, others think it would do the opposite.

“It won’t mean anything because it won’t affect the economy, but it will confuse the user,” said a faculty director of the Free University in Bogota Jorge Rodriguez.

Colombia proposes removal of three zeros from peso was last modified: April 12th, 2018 by Frank Cardona